Accounting Principles Accounts Payable Compliance General Ledger 
The Charity CFO
APRIL 29, 2022
We won’t deal with other types of nonprofit audits , like compliance audits or governmental audits, which can differ in certain respects. For more detail, refer to this article on permanent accounts.). Examine accounts receivable (A/R) aging summary for reasonableness. Reconcile net assets (with and without donor restriction).
The Charity CFO
FEBRUARY 4, 2022
Nonprofits must maintain thorough and accurate financial records to comply with both Generally Accepted Accounting Principles ( GAAP ) and maintain their tax-exempt status with the IRS. Execute data entry to keep the general ledger current . Allocate revenue and expenses to restricted fund accounts .
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